The Wisconsin State Fair Park Board has decided to cut ties with Milwaukee Mile Holdings LLC, the group that promotes and runs auto racing at the Milwaukee Mile.

"The Fair Park Board has made every effort at reasonable negotiations with Milwaukee Mile Holdings," said Susan Crane, chairwoman of the park board. "The board felt the time had arrived to take decisive action to ensure there is racing at The Mile this summer."

Waiting in the wings is Wisconsin Motorsports LLC, a new group led by Claude Napier, currently the president and CEO of the Milwaukee Mile. Napier said Thursday that he was very close to a new agreement with the fair that will keep racing going at the historic racetrack.

Napier added that this year's slate of races at the track, including IndyCar and NASCAR, will be held as scheduled. Napier said he was also working to add more events at the track.

Napier did not disclose who would be in his ownership group.

In a prepared statement, State Fair officials said they expected a "seamless transition because the new promoter has significant experience managing day-to-day track operations and race events such as the IndyCar series, and NASCAR's Truck Series and Nationwide Series."

Fair officials said Napier will guarantee that tickets already purchased by race fans for events this season will be honored.

Milwaukee Mile Holdings LLC had claimed for months that it was losing millions of dollars at the track, and had asked for a new agreement that included elimination of an annual lease fee. In addition, Milwaukee Mile Holdings LLC had asked for the right to develop land near the Pettit National Ice Center.

The State Fair board rejected both those requests, noting that it had no plans to alter an agreement the two sides had reached in February 2008.